Modern industry is based on the conception of the maximum production at the lowest cost,…

现代工业是建立在以最低成本获得最高产量这一见解基础上的，……

(4)

notion 往往表示比较含糊的“意念”或尚未完全成熟的“想法”(His head is full of silly notions. 他满脑子尽是些糊涂想法。

He has a notion that I'm cheating him.

他认为我在骗他。

(5)

concept 有两层含义：一为概念，一为“思想”或“观念”

The fact that we are not sure what "intelligence"is ,nor what is passed on, does not prevent us from finding it a very useful working concept and placing a certain amount of reliance on tests which"measure" it.